hexaware technologies has announced a restructuring of its senior management team, elevating two existing executives and accepting the resignation of its President & Head – Europe & APAC Operations. The changes, disclosed to the stock exchanges on May 31, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, are aimed at realigning leadership to drive growth in key geographies.

Mr. Parameshwaran Iyer has been elevated to the role of Executive Vice President, Head – UK and Europe. A company veteran with 22 years of tenure at Hexaware and 28 years of industry experience, Mr. Iyer has been instrumental in achieving the Top Ranked status for Customer Delight in the UK. His new role is effective May 31, 2026.

In a simultaneous move, Mr. Vijay Raghavan has been elevated to Senior Vice President, Head – Asia Pacific and Middle East. Mr. Raghavan, who joined Hexaware in 2016, brings over 20 years of experience in driving growth and transformation. He holds a Post Graduate Diploma in Business Management from the Indian Institute of Management Calcutta and has been recognized for combining commercial leadership with expertise in AI, cloud, and digital transformation.

The company also announced the resignation of Mr. Amrinder Singh from the position of President & Head – Europe & APAC Operations. Mr. Singh tendered his resignation on May 29, 2026, to pursue other career opportunities. His resignation is effective from the close of business hours on June 18, 2026.

Summary of Management Changes

Hexaware Technologies has completed the acquisition of Consulting Professionals Services Holdings Limited and its wholly owned subsidiary, Consulting Professionals Services Limited (CPS), for a total consideration of GBP 11.00 million. The transaction, executed through Hexaware's wholly owned subsidiary Hexaware Technologies UK Ltd, concluded on May 28, 2026. This strategic acquisition is designed to strengthen the company's capabilities as an AI and cloud transformation partner for financial institutions and blue-chip organizations.

Transaction Details

The deal was structured as an all-cash transaction with a total consideration capped at GBP 11.00 million. This included an upfront payment of GBP 6.00 million and an additional GBP 5.00 million contingent upon the financial performance of the acquired entity. Hexaware has acquired 100% shareholding and control of the target entity. The company confirmed that the transaction did not require any governmental or regulatory approvals and was not a related party transaction.

Strategic Rationale

CPS is a specialist technology consulting and professional services firm operating primarily in the United Kingdom and the United Arab Emirates. The firm delivers high-value consulting services, including regulatory compliance, technology infrastructure, governance and risk, and business transformation, to a FTSE 100 client. Hexaware currently maintains an existing relationship with this client and ranks among its top service providers. The acquisition is expected to consolidate client spend and strengthen Hexaware's strategic positioning within the client's supplier landscape.

Financial Performance

The target entity provided unaudited turnover figures for the client contract over the past three fiscal years. The data reflects the performance of the business operations being transferred to CPS as part of the transaction. The exchange rate used for conversion is INR 127.00 per GBP.

*INR to GBP foreign exchange rate = INR 127.00 per GBP